Sales, analytics and business processes are the core business operations and winners of CRM Watchlist 2013, chosen based on the expertise showcased in any of these categories. Paul Greenberg, President, The 56 Group, LLC and author of ‘CRM at the Speed of Light: Social CRM Strategies, Tools and Techniques for Engaging Your Customers’ gives a blow-by-blow account of how the winners made it to the list.
The winners are Xactly and Lattice Engines in sales, BPMOnline and Pegasystems in process and Clarabridge in analytics.
CRM Watchlist – Sales Category
Sales was the factor originally driving CRM, both as a technology and as a strategy. CRM technology has been traditionally identified with the automation of sales force.
Xactly: The company is a leader in the significant niche markets-sales compensation and incentive compensation management. Their platform is totally cloud-based and creates and implements compensation programs.
Xactly has a unique approach towards compensation systems and planning. The company will perform better if they broaden their substantial partner network consisting of consulting, system integration and technology partners. Xactly should focus on telling the world about the company’s ecosystem.
Lattice Engines: The company made significant advances with their core product salesPRISM which focuses on intelligent sales marketing, talking points and sales campaigns.
Lattice Engines can further scale up the ladder by giving emphasis beyond Big Data used for sales. Picking up sales optimization rather than sales effectiveness, implementing analyst relations program as well as linking product steps to demand generation are other spheres to focus on.
CRM Watchlist – Process Category
CRM in process means the use of business rules engine and strong toolset for workflow creation capable of handling complex flows. The winners in this category put considerable effort and time into understanding the variances and nuances of business processes.
BPMonline: The company boasts 3500 customers across 35 countries. They have emerged as a technology company due to their vibrant team, cohesive culture that encourages innovation and hard work, expansion of mind share and market reach, opportunity development and a strong development team.
BPMOnline can scale greater heights if they expand to US, slow down new product releases, focus increasingly on sales and marketing, as well as refocus more on outcomes of the processes.
Pegasystems: This is a company which has a long history in the BPM technology world. The capability of Pegasystems to handle complexity makes them one of the market leaders. Most of the queries which aren’t complaints are handled in automated fashion whatever be the communication channel.
The use of predictive analysis by the company enables them to reactively and proactively respond to queries and complaints.
With increased focus on CRM, the company has been involving more in sales and marketing by using available applications. However, they need to do much more than just showcase the features in sales and marketing offered by them. They should also transcend beyond the old-school marketing followed in their literature.
CRM Watchlist – Analytics Category
Predictive analytics is increasingly being implemented as it has the ability to forecast customer behavior right down to their next action. Capturing customer’s emotional response or mood has also been crucial in giving them adequate responses.
Clarabridge: The company proved to be a clear winner in the category. Their analytics platform is one of the most powerful ones available. Clarabridge has a solid partnership strategy resulting in more than 40 partnerships in consulting and technology arena.
Clarabridge has a good management team and lay extreme emphasis on customer experience and feedback proving results that makes customers fall in love with them. With a few tweaks, they can continue to remain on top. This includes major AR/PR escalation, dealing effectively with ongoing setup complexity, showcasing benefits of ’11 point sentiment’ as a string of outcomes as well as overhauling their website.
While the reviews of the winners of CRM Watchlist 2013 are still ongoing, the registration process for CRM Watchlist 2014 has already begun. With the 2013 winners proving to be truly worthy of the accolade, there is going to be tougher line up for the 2014 watchlist.